The past few months have been some of the most challenging, unpredictable, and overall exhausting times of this century. Some of its most devastating consequences have been felt in the world’s economy; entrepreneurs, small and mid-size businesses, and even some of the biggest corporations have beed affected. Yet, some industries, including those providing entertainment, or dealing with essentials, have not only been able to stay afloat but might even become some of the most thriving and stable industries post-pandemic. Read through to find out which industries will either boom or continue to thrive after the pandemic ends.
1. The Virtual Meeting Industry
With so many of us working from home, platforms such as Zoom, Skype, and Google Hangouts have brought an element of “normalcy” to our work. Zoom, for instance, had its stock price rising by more than 100% in two months. Microsoft had its software’s daily users rising from 32 million to 44 million in March, and Google made its Google Hangout premium features free to all. With several companies realizing that the work-from-home model could actually work, many employees may choose to continue working from home even after the pandemic ends, providing the industry with continued high demand.
2. The Cybersecurity Industry
Cybersecurity has been a massive business for years, but now more than ever, the susceptibility to hackers in digital tools is higher than ever. The pandemic has posed a considerable threat to cybersecurity, with businesses having their emails and virtual meetings compromised by scammers, and attackers targeting companies as big as the World Health Organisation (WHO). Because businesses initially had to do everything they could to adapt quickly to the situation, they might not have given the attention they should have to their security online. So the cybersecurity industry is in for the long run.
3. E-learning Resources
The education system has also been a widely affected industry by the pandemic, with schools and universities having to shift the resources to the online world. In a matter of days, parents have added “teacher” to their resume, and teachers have continued to find innovative online tools to continue to deliver their classes. In addition to schools and universities, though, the e-learning world has boomed thanks to the increase in people looking to learn new skills online. For example, Duolingo, a popular online language learning app, saw a 148% increase in sign-ups in the United States in one month.
4. Online Fitness Industry
Online fitness resources have also boomed in the past couple of months since gyms were some of the first places to close in the initial stages of the pandemic. For example, the fitness app Centr, owned by actor Chris Hemsworth, saw an increase of 300% in downloads in April. Other platforms, such as Youtube fitness channels, Instagram, and fitness apps have also increased downloads and online attendance. While it is not a given that the industry will continue to boom after fitness fanatics can rejoin the gym, those who appreciate more affordable, private, and flexible ways of exercising might choose to stay online.
5. The Gaming industry
The pandemic has certainly allowed gamers worldwide to improve their skills and has also allowed non-gamers to explore the adventurous world of gaming. For example, Nintendo released its new game “Animal Crossing: New Horizons” in April, and saw sales that were higher than any other game has ever achieved. Game streaming platforms have also seen a considerable increase in usage, such as Twitch, a gaming platform that saw a 10% increase globally. After the pandemic ends, the possibility that gamers will continue to play is extremely high.
6. Movie And TV Streaming Services
Platforms such as Netflix and Disney+ have been some of the platforms that have boomed the most with the insurgence of the coronavirus pandemic. While Netflix was already popular before the outbreak, it's stock prices were actually fluctuating before COVID-19. But since the pandemic, the company has continued to see an incredible increase in subscribers, with 70 million subscribers in the US alone. Disney+ is another platform that is on the rise and is becoming a fierce competitor for Netflix. After the pandemic, both companies will continue to offer vital services, with an audience that is most probably going to stay.